Comerica Bank bought a new stake in shares of Morningstar, Inc. (NASDAQ:MORN) in the first quarter, HoldingsChannel reports. The fund bought 1,635 shares of the business services provider’s stock, valued at approximately $210,000.
Several other institutional investors also recently added to or reduced their stakes in MORN. FMR LLC grew its position in shares of Morningstar by 57.2% during the 4th quarter. FMR LLC now owns 1,228,505 shares of the business services provider’s stock valued at $134,940,000 after acquiring an additional 447,111 shares during the period. Mawer Investment Management Ltd. bought a new position in shares of Morningstar during the 4th quarter valued at approximately $31,678,000. Norges Bank bought a new position in shares of Morningstar during the 4th quarter valued at approximately $31,613,000. Millennium Management LLC grew its position in shares of Morningstar by 123.6% during the 4th quarter. Millennium Management LLC now owns 101,398 shares of the business services provider’s stock valued at $11,138,000 after acquiring an additional 56,052 shares during the period. Finally, Eagle Asset Management Inc. grew its position in shares of Morningstar by 9.7% during the 1st quarter. Eagle Asset Management Inc. now owns 298,271 shares of the business services provider’s stock valued at $37,579,000 after acquiring an additional 26,470 shares during the period. 42.64% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Joseph D. Mansueto sold 21,530 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $119.63, for a total value of $2,575,633.90. Following the completion of the transaction, the insider now directly owns 22,310,842 shares of the company’s stock, valued at approximately $2,669,046,028.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph D. Mansueto sold 18,301 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $121.99, for a total transaction of $2,232,538.99. Following the completion of the transaction, the insider now directly owns 22,299,994 shares of the company’s stock, valued at $2,720,376,268.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,160 shares of company stock valued at $50,629,225. 54.10% of the stock is owned by insiders.
MORN opened at $148.32 on Thursday. The company has a market capitalization of $6.31 billion, a P/E ratio of 38.31 and a beta of 0.86. Morningstar, Inc. has a 12 month low of $99.67 and a 12 month high of $149.70. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.
Morningstar (NASDAQ:MORN) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.77 EPS for the quarter. The company had revenue of $258.90 million during the quarter. Morningstar had a net margin of 16.84% and a return on equity of 17.95%.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Wednesday, July 3rd.
Separately, BidaskClub raised shares of Morningstar from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 29th.
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Morningstar, Inc provides independent investment research services in North America, Europe, Australia, Canada, Asia, and internationally. It offers a line of data, research, and software tools on a range of investment offerings, including managed investment products, publicly listed companies, fixed income securities, private capital markets, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.
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